CBL & Associates Properties Inc. closed on the sale of three of its lowest tiered enclosed malls for $32.25 million to Hull Property Group.
The 1.67 million-gross leasable square-foot portfolio includes Randolph Mall in Asheboro, NC; Regency Mall in Racine, WI; and Walnut Square in Dalton, GA. The three malls contain about 498,000 square feet of inline store space.
CBL reported that sales per square foot at all three malls were less than $279. . . . more